More Than Half of Americans Are Living Paycheck-To-Paycheck

Inflation has more than half of U.S. households living paycheck-to-paycheck, according to a new report. A study by LendingClub says 58% of Americans live paycheck-to-paycheck. This works out to be more than 150 million adults.

This number is down from 61% as reported in April but up from 54% in May 2021. Any way you look at it, this is still more than half of all American adults, which is concerning.

This number is not limited to lower-income households either. The study found that 30% of those earning $250,000 or more are also going week-to-week.

CNBC says the consumer price index surged by 8.6% in May as compared to a year ago. This is the highest surge since December of 1981. With this surge, many employees took pay cuts as well, meaning what you earn can't be stretched as far for everyday expenses like food or gas. It also makes it extremely difficult to even set money aside for savings or future expenses.

Many are using credit cards to stay on top of expenses. Credit card balances reached $841 billion in the first three months of 2022. The Federal Reserve has been increasing its target federal funds rate as a result.

How has inflation (and especially gas prices) affected your weekly budget?

READ NEXT: California Man Attacked By Shark Estimated To Be 20 Feet Long

We are just one short week away from the 4th of July! And that means several things: a day off, pool or lake time, hamburgers and hotdogs. Am I forgetting something? Oh yes, of course! FIREWORKS! And lucky for you, there are plenty of places you can catch fireworks in Charlotte this July 4th. So no need to take the risk of setting off your own and catching something on fire. It's not worth it, I promise!

And no matter what part of the area you are located in chances are there is a fireworks display near you. In addition to this list there are several fireworks shows in the Charlotte area on Saturday and Sunday as well. This list just contains shows on July 4th (Monday). Know of one we missed? Let us know on social media! Happy 4th of July!

Location: Uptown Charlotte at the Knights Stadium (324 S. Mint Street)

Time: Following the conclusion of the baseball game (1st pitch at 6:05pm)

Location: Carowinds (300 Carowinds Blvd)

Time: 9:30 pm Saturday, Sunday, and Monday

Location: Near the Buster Boyd Bridge (NC/SC 49)

Time: 9:30 pm

Location: Rotary Centinnial Pavilion (107 N. South Street)

Time: 9:30 pm

Location: Corner of Dave Lyle and Main Street

Time: 9:30 pm

Location: Harrisburg Park (191 Sims Pkwy)

Time: Undisclosed

Location: 15803 Molokai Drive

Time: 9:30 pm

Location: York Middle School (1010 Devinney Rd)

Time: Event runs from 7-11pm